Baltimore Ravens quarterback Joe Flacco, shown in an AFC divisional playoff game against the Denver Broncos, will receive $52 million in guaranteed money in his record-breaking $120.6 million contract. / Ron Chenoy, USA TODAY Sports

by Jim Corbett, USA TODAY Sports

by Jim Corbett, USA TODAY Sports

The guaranteed portion of quarterback Joe Flacco's record-setting, $120.6 million, six-year deal with the Baltimore Ravens is worth $52 million, a person with knowledge of the negotiations told USA TODAY Sports on Sunday.

The person requested anonymity because the contract has not been signed and details of the pact have not been made public by Flacco's representatives or the Ravens.

The deal, which includes a $29 million signing bonus, will count $6.8 million against the Ravens' $123-million salary cap this season, and Flacco will receive $62 million for the first three years of the deal and $51 million for the first two years, the person said.

The contract includes $22 million in option bonuses, the first of which -- $15 million -- is due in 2014.

Flacco's $62 million average over the first three years trumps the $60.5 million New Orleans Saints quarterback Drew Brees received last summer in his six-year, $120 million deal, the previous most lucrative deal for an NFL player.

Flacco is expected to sign the contract Monday.

Flacco's base salary for 2013 is $1 million, with base salaries of $6 million in 2014 and $4 million in 2015. His base salary on the backloaded deal jumps to $18 million in 2016, $20.6 million in 2017 and $20 million in 2018.

The cap number jumps to $14.8 million in 2014, $15.8 million in 2015 and then to a whopping $29 million in 2016. The deal appears set up for a restructuring after the third season.

How does Flacco's mega deal help the Ravens?

General manager Ozzie Newsome is now free to use the team's franchise tag by today's 4 p.m. deadline on one of three key defensive players -- linebacker Dannell Ellerbe, defensive end Paul Kruger or perhaps even veteran safety Ed Reed. Newsome had said previously the team would only use the franchise tag on Flacco, but that approach could change Monday.

Ellerbe's agent Hadley Englehard had not heard from the Ravens since the parties "had some good talks at the combine,'' one week ago, he said.

"They had their pecking order and they had to get Joe done first,'' Engehard told USA TODAY Sports Sunday. "l expect to hear from them in the coming days.''